Commercialising Communities - SWARM 2013
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This document discusses strategies for commercializing communities on social media. It outlines direct approaches like advertising, affiliate marketing, and branded content. Indirect approaches involve using the community to drive business metrics like sales, customer retention, and referrals. The document provides examples of how businesses in different industries have monetized their communities indirectly. It emphasizes measuring ROI by defining success metrics and tracking how the community impacts those metrics over time. The key takeaways are understanding different commercialization models, applying them based on the community, and proving the community's value to the business.
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Commercialising Communities - SWARM 2013
- 2. Agenda – Commercialising Communities 1.Introductions 2.A Community’s Value 3.Direct commercialisation 4.Indirect commercialisation 5.Measuring ROI 6.Wrap-up
- 3. What you should take away… 1.An understanding of the key community commercialisation models. 2.How they apply to your community. 3.How to prove the value of your community.
- 5. Introductions Almost 300 Australian businesses managed on social media
- 7. Over to you… Let’s hear about the type of community you run.
- 9. Finding Your Community’s Value 49% of CMOs don’t know the value of their social.* *The CMO Survey - 2013
- 10. Finding Your Community’s Value
- 11. Finding Your Community’s Value
- 12. Finding Your Community’s Value
- 13. Finding Your Community’s Value
- 14. Question Do you know the value that your community does or could provide to your business?
- 16. Advertising
- 18. Branded Content
- 21. Question Has anyone tried any of these commercialisation strategies? Are any of these right for your communities? Are there any strategies you’d like to try?
- 24. Yelp - Indirect Monetisation
- 25. Beletti Restaurant and Café in Melbourne Suburbs What is Beletti’s community ROI?
- 26. Beletti Restaurant and Café in Melbourne Suburbs Customer retention and loyalty. 1149 Likes Anecdotal uplift in bookings
- 27. SOHO Dresses Online fashion retailer •What is SOHO dresses community ROI?
- 28. SOHO Dresses Online fashion retailer •Over 3000 likes. •Sales have doubled along with traffic.
- 29. Tas IVF IVF Clinic •What is Tas IVF’s ROI from social?
- 30. Tas IVF IVF Clinic •1200 Likes •Building a safe community for women engaging in or interested in IVF •Referrals have grown by 8% •Procedures have increased by 13%
- 31. Daalders Exhausts and Mufflers Business •What is Daalders ROI from social?
- 32. Daalders Exhausts and Mufflers Business •1500 Likes •Solid number of customer service enquires. •Showcases business products.
- 33. Questions In what way is your community indirectly generating revenue?
- 35. Direct
- 36. Indirect
- 37. Commercialising White Pages Community
- 38. White Pages Report •Key Growth Metrics •Benchmarking •Reporting on growth metrics •Aligning goals with the wider business?
- 40. Question What will you STOP, MINIMISE, KEEP DOING, do MORE of and START?
- 41. Measuring ROI
- 43. What’s Important to Your Business? Sales Subscriptions Direct revenue Ratings Traffic Customer retention Donations ?
- 44. Question What are the core objectives of your business?
- 45. ROI – Analytics and Tracking
- 46. ROI – Earned Media Value
- 47. ROI – Earned Media Value US$174 = Synapcase 2013- - http://www.syncapse.com/value-of-a-facebook-fan-2013/#.UW6uQrVJNQU
- 48. ROI – Business Data and Timelines
- 49. ROI – Word of Mouth
- 50. ROI Planning 1.Identify business goals. 2.Define success metrics. 3.Benchmark. 4.Track, measure, correlate, and adjust.
- 51. Example – Roadmap and Reporting •Set the benchmarks for measuring ROI – Roadmap. •Return to those benchmarks as often as possible through reporting.
- 52. Question What metrics should you be reporting for your community? How could you be tying that value in better with wider business objectives? Who should you be reporting to?
- 53. Wrap-Up
- 54. Wrap-Up Commercialisation can be direct or indirect. Regardless, it’s important to understand and demonstrate the value your community provides your business.
- 55. Direct 1) Are you ready to directly commercialise? 1) Is your community big enough? 2) Will they accept commercialisation? 3) Do you have wider business support? 2) Don’t limit yourself to one strategy but focus on one to start with a get it right. 3) Implement lightly and be prepared to change if needed. 4) Measure and analyse.
- 56. Indirect 1)Tie your community back to core business objectives. 2)Find a way to measure and track your community against core business metrics.
Notas del editor
- Using your community to drive an advertiser’s message for them. Ad networks Custom ads Sponsorship Pros Ads can be easy to implement particularly on Wordpress blogs. There are a range of ad networks that can be leveraged. Ads can be ‘set and forget’. You can sell advertising to brands that are right for your audience. Sponsorship can work for almost any community. Cons Digital display advertising isn’t particularly effective. Brand alignment and relevance of ads particularly when using ad networks can be an issue. Selling your own ads means managing the advertiser relationships. The average clickthrough rate of display ads is 0.1%.
- Content that pushes a brand or advertisers message while providing value for your community. Blog posts Social posts Video content Pros The advertising is tailored for your audience. Branded content can be more effective. Charge a premium for the service. One of the only ways to monetise social communities effectively. Cons It can be difficult and time consuming to build the branded content. There’s disclosure issues around branded content. Branded content can tread a fine trust line with your community.
- These areas might be critical to your businesses success.
- These areas might be critical to your businesses success.
- These areas might be critical to your businesses success.
- These areas might be critical to your businesses success.
- These areas might be critical to your businesses success.
- These areas might be critical to your businesses success.
- Brand awareness Customer retention Word of mouth-style leads Traffic to your site SEO
- Regardless of your monetisation model you need to be measuring the success of it.
- Traffic from communities back to websites. DSP and ad-network tracking tracking Affiliate marketing tracking With direct monetisation/commercialisation it can be fairly simple to measure out comes.
- Traffic from communities back to websites. DSP and ad-network tracking tracking Affiliate marketing tracking
- Social has digitised word of mouth and word or mouth is still one of the most powerful tools for driving business. How can you measure the word of mouth power your community offers to your brand?